MDAX-listed Pfleiderer AG, Neumarkt (ISIN DE0006764749) signed a contract on March 6, 2006 for the sale of its Business Center Pfleiderer track systems. An interim right to rescind the contract expired today. The companies taking over the Business Center belong to AXA Private Equity. The transaction amongst others is subject to approval by the German anti-trust authority. Pfleiderer expects the transaction to yield a capital gain of appr. 45 million euros after taxes.
A previous exclusivity agreement entered into with Vossloh AG, Werdohl, was rescinded at the end of 2005 following a delay in the approval procedure due to misgivings by the German anti-trust authority.
Sale of Pfleiderer track systems marks the end of the strategic realignment embarked on by Pfleiderer AG, which is now concentrating entirely on expanding its Business Center Engineered Wood internationally.
About the PCM RAIL.ONE Group
The PCM RAIL.ONE Group has been manufacturing concrete sleepers and track systems for urban transit and long-distance rail transportation for over 60 years. The technology leader also offers its expertise in the fields of engineering and plant construction. Its customer-driven innovations fulfill the highest quality standards and are installed around the world
The PCM RAIL.ONE Group is comprised of several companies and eleven production facilities with a presence in Germany, Romania, Saudi Arabia, Spain, South Korea, Hungary, Turkey, the United States, and India. It maintains annual capacities of over 5 million track sleepers and 750,000 linear meters of turnout sleepers.